Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
Update: Swiss Re Weighs Investment in Chinese Insurer Anbang, Say Sources
Oct 21 2018 // China’s attempts to find new investors for Anbang Insurance Group Co. are gathering pace, as Cerberus Capital Management LP to Swiss Re AG size up the embattled insurer and its overseas operations. Cerberus and Swiss...
Danish Insurer Qudos Ceases Underwriting, Pending Restructuring
Oct 19 2018 // Copenhagen-based Qudos Insurance will cease underwriting new business with immediate effect, pending a restructuring of the business, announced parent company New Nordic Advisors. New Nordic said it aims to re-launch the...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
New Hampshire Insurance Company Trains Workers on Overdose Reversal Drug
Oct 18 2018 // Employees at one of New Hampshire’s community mental health centers are getting trained to administer overdose reversal drugs. Harvard Pilgrim Health Care on Friday held a training session for employees at Riverbend...
Texas Windstorm Insurer’s Request to Hike Liability Limits Denied
Oct 18 2018 // Texas Insurance Commissioner Kent Sullivan has declined to approve the request by the state’s property insurer of last resort for wind and hail along the Texas coast to increase maximum limits of liability for...
Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael
Oct 18 2018 // Haley Nelson inspects damages to her family properties in the Panama City, Fla., spring field area after Hurricane Michael made landfall in Florida’s Panhandle on Wednesday, Oct. 10, 2018. (Pedro Portal/Miami Herald...
Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions
Oct 17 2018 // The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer...
Virginia’s Prosper Insurance Company to Expand Headquarters, Add 75 Jobs
Oct 17 2018 // Prosper Insurance Company has announced it will expand from its 6,000-square-foot headquarters in Virginia Beach, Va. The corporate investment is expected to be $750,000 with the buildout, furniture, fixtures and...
Specialty Insurer StarStone Taps Hendrickson from Validus as CEO, Replacing Smith
Oct 17 2018 // StarStone, the London-based specialty insurer, announced the appointment of John Hendrickson as group chief executive officer of StarStone Group, with immediate effect. He succeeds Demian Smith, who resigned in September...
P/C Insurers Double Net Income in First Half of Year
Oct 16 2018 // U.S. property/casualty insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, with the help of lower catastrophe losses, growing premiums, and an...
Softbank Plans Big Push into Insurance Investments
Oct 16 2018 // Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive...
Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village
Oct 16 2018 // Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts...
UK Insurers, Banks Need ‘Credible Plans’ for Climate Change Risks: Bank of England
Oct 15 2018 // Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. “Financial risks...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurtech Partnerships: What Insurers Want and Get
Oct 15 2018 // Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s...
Insurtech Pilots and Pivots: Learning by Doing and Undoing
Oct 15 2018 // “If you can’t admit a failure, you’re not an entrepreneur. You are not a good business person. There’s nothing brilliant about what you are doing.” –Mark Cuban Insurtechs are great for...
Texas Coastal Lawmakers Urge Denial of Windstorm Insurer’s Filed 10% Rate Hike
Oct 15 2018 // More than 20 state legislators have signed a letter addressed to Texas Insurance Commissioner Kent Sullivan requesting that a 10 percent rate increase filed by the state’s property insurer of last resort for wind and...
4 New Insurers OK’d to Do Business in Arkansas
Oct 12 2018 // Arkansas Insurance Commissioner Allen Kerr has approved four new out-of-state companies to sell insurance products in Arkansas. The Arkansas Insurance Department (AID) has granted Certificates of Authority to...
Wisconsin’s Burns Insurance Agency Joins Keystone Insurers Group
Oct 12 2018 // Keystone Insurers Group (Keystone) has named Burns Insurance Agency of Marshfield to its growing list of partners in Wisconsin. Burns Insurance Agency was established in May 2000 by Cindy Burns. Dan Burns joined the agency...
